Jim Rogers Unloads Again

An Interesting interview with Jimmy Rogers by Keith Fitz-Gerald recently offered us another humorous (but sadly true) analysis on our current economic situation. Here is a quote from that article that struck me poignantly:

“Yeah. But remember that America had such a magnificent and gigantic position of dominance that deterioration will take time. You know, you don’t just change that in a decade or two. It takes a lot of hard work by a lot of incompetent (emphasis mine) people to change the situation. The U.K. situation I just explained…that decline was over 40 or 50 years, but they had so much money they could have continued to spiral downward for a long time. “

And another great quote:

(Q): Is there a specific signal that this (economic problem) is “over?”

Rogers: “Sure…when our entire U.S. cabinet has Swiss bank accounts.  Linked inside bank accounts.  When that happens, we’ll know we’re getting close because they’ll do it even after it’s illegal – after America’s put in the exchange controls.”

Here is the article – enjoy!

Article

By the way, as an added bit of information on the theme of economic troubles continuing, an interesting op/ed piece from Fortune Magazine’s Geoff Colvin on how it’s going to be when we can’t use credit cards anymore to fake our lifestyle:

Fortune – Colvin

Chris Grande

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